Marcus & Millichap Inc., a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced on 31 January 2022, the hiring of Biran Patel as senior vice president and national director of the firm’s hospitality division in Chicago.
Patel will manage the company’s hospitality division, which focuses exclusively on providing investment advisory and transaction services for hospitality, lodging, resort, marina and golf properties.
Biran Patel is a young and dynamic person, who is a second-generation hotelier and a native of Birmingham. He holds a B.S. in finance from the University of Texas, and has tremendous experience in the hotel industry. He has also got a fine list of notable achievements under his belt, including laudable efforts during the peak pandemic crisis. He had recently served as an officer at Asian American Hotel Owners Association (AAHOA) since 2017 and as chairman from 2020 through 2021.
Patel, commenting on being hired for the Marcus & Millichap company said that hospitality industry was always an integral part of his life and he looks forward to bring forth his experience for the benefit of the company he is joining.
“I spent my childhood being exposed to every aspect of the business at my family’s hotels. By learning from the ground up, I have a unique perspective of the intricacies associated with a successfully run hotel and have utilized this knowledge throughout my professional career. I’m excited about bringing my breadth of hospitality experience and business acumen to Marcus & Millichap,” were his words.
Marcus & Millichap’s Hospitality Division leverages a network of over 2000 investment sales and financing specialists in offices across the United States and Canada in order to expose properties to the largest possible pool of qualified investors.